Microsoft-controlled LinkedIn will set up a trading platform for freelance services that will provide its users, according to the global media, on its platform. The technology giant will therefore seek to take advantage of LinkedIn’s 740 million users in favor of an additional revenue stream. In this way, the company is expected to compete with at least some of Faber’s activities, which offer services from categories that are not typical of LinkedIn users. Faber stock is down 9%.
About five years ago, Microsoft acquired LinkedIn for $ 27 billion. Although the company makes about $ 9 million a year, Microsoft is thinking of how to increase the amount and get more out of the platform, which most of its users do not generate revenue for and is commonly used for job search. The launch of the new platform is planned for this fall.
LinkedIn will likely incorporate a digital wallet-based clearing system, and in addition to paying for a single transaction with a freelancer, whether it be a consulting, marketing or content service, users will be able to sell a subscription that allows viewing the content provided to the platform each month. Through Patrion.
It will be said that there is already a feature on LinkedIn that allows you to search for freelance services, and users can choose to display their name in the results. Microsoft does not get much out of it right now, as the transaction is not carried out on the platform, and the company does not incur any commission. Now Microsoft is taking the next step in this direction.
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